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LeiDi Network, Lei Jianping, April 11
COFOE Medical Technology Co., Ltd. (referred to as &#34;COFOE Medical&#34;) has recently passed the listing hearing and is preparing to list on the Hong Kong Stock Exchange.
COFOE Medical was listed on the Shenzhen Stock Exchange in October 2021, issuing 40 million shares at an issue price of 93.09 yuan, raising 3.724 billion yuan. Due to the high pricing and large issuance scale at that time, COFOE Medical was in a state of breaking the issue price on its first day of listing.
COFOE Medical announced a cash dividend of 12 yuan (including tax) for every 10 shares to all shareholders, based on a distributable capital of 205,018,269 shares, with no bonus shares (including tax) and no capital reserve fund conversion for every 10 shares.
COFOE Medical has been listed on the A-share market for nearly 4 years. As of today's close, COFOE Medical's stock price is 56.45 yuan, with a market capitalization of 11.8 billion yuan.
Annual revenue of 3.4 billion, profit of 370 million
COFOE Medical was established in 2007 and is a comprehensive home medical device company specializing in the research and development, production, sales, and service of home medical devices. The company is located in Changsha, Hunan Province.
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The prospectus shows that COFOE Medical's revenue for 2023, 2024, and 2025 is expected to be 2.854 billion yuan, 2.983 billion yuan, and 3.387 billion yuan, respectively; gross profit is expected to be 1.173 billion yuan, 1.5 billion yuan, and 1.752 billion yuan; and net profit is expected to be 253 million yuan, 312 million yuan, and 370 million yuan, respectively.
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COFOE Medical's customers mainly include e-commerce platforms, chain pharmacies, distributors, and individual consumers. In 2023, 2024, and 2025, COFOE Medical's top five customers contributed 43.8%, 33.7%, and 36.1% of total revenue, respectively.
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In 2025, COFOE Medical's revenue from rehabilitation aids is expected to be 1.178 billion yuan, accounting for 34.8%; revenue from medical care products is expected to be 730 million yuan, accounting for 21.6%; revenue from health monitoring products is expected to be 556 million yuan, accounting for 16.4%; revenue from respiratory support products is expected to be 261 million yuan, accounting for 7.7%; and revenue from traditional Chinese medicine therapy and other products is expected to be 241 million yuan, accounting for 7.1%
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As of December 31, 2025, COFOE holds cash and cash equivalents of 1.295 billion yuan.
Zhang Min and his wife control 54% of the shares
The executive directors of COFOE are Zhang Min, Zhang Zhiming, Xue Xiaoqiao, and He Bangjie; the independent non-executive directors are Liu Aiming, Ning Huabo, and Ms. Shen Nan.
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As of December 31, 2025, Changsha Medical Investment Co., Ltd. holds 40.73%, Zhang Min directly holds 5.8%, Changsha Keyuan Tongchuang Venture Capital Partnership (Limited Partnership) holds 5.8%, Zhang Zhiming holds 3.48%, and Huagai Capital LLC - Capital Health Industry (Beijing) Fund (Limited Partnership) holds 2%,
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As of December 31, 2025, the equity structure of COFOE
Ningbo Huige Health Investment Management Partnership (Limited Partnership) - Ningbo Huige Gongxin Venture Capital Partnership (Limited Partnership) holds 1.99%, Nie Juan directly holds 1.67%, Bank of Communications Co., Ltd. - Cathay Golden Eagle Growth Flexible Allocation Mixed Securities Investment Fund holds 1.29%, Industrial and Commercial Bank of China Limited - Penghua Quality Governance Mixed Securities Investment Fund (LOF) holds 1.07%, and Hu Jun holds 0.96%.
Zhang Min and Nie Juan are married and are the actual controllers of the company. Zhang Min and Nie Juan together hold 100% of the shares of the medical investment, with Zhang Min as the executive director and Nie Juan as the general manager of the medical investment.
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Zhang Min is the general partner and executive managing partner of Keyuan Tongchuang, holding 5% of the capital contribution of the enterprise; Nie Juan is a limited partner of Keyuan Tongchuang, holding 55% of the capital contribution of the enterprise; Zhang Zhiming is a limited partner of Keyuan Tongchuang, holding 40% of the capital contribution of the enterprise.
Zhang Min and Nie Juan together control 54% of the company's shares.
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COFOE Technology Co., Ltd. recently passed the listing hearing and is preparing to list on the Hong Kong Stock Exchange. The company has an annual revenue of 3.4 billion and a profit of 370 million, with the Zhang couple controlling 54% of the shares. COFOE was established in 2007 and focuses on the research, development, production, and sales of home medical devices. The projected revenues for 2023, 2024, and 2025 are 2.854 billion, 2.983 billion, and 3.387 billion, respectively. The company's main customers include e-commerce platforms and chain pharmacies

COFOE passes the listing hearing: annual revenue of 3.4 billion, profit of 370 million, and the Zhang Min couple controls 54% of the equity